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Operating rate of tire plants drops sharply in first week of May

Media reports disclosed that in the first week of May, the operating rate of domestic tire enterprises showed a sharp declining trend.

Statistics show that as of May 5, the operating rate of all-steel tire plants in Shandong was only 55.03%, down 11.14% from the previous week, or 15.79% year on year.

Similarly, in the first week of May, the operating rate of semi-steel tire plants in China was 41.12%, down 27% from the week before, or 32.9% year on year.

The sharp decline in the overall operating rate of the tire industry was attributed to some tire manufacturers taking vacation during the “May 1st Labor’s Day” holiday.

Tireworld